"As the exodus of lenders from the guaranteed-student-loan program continues, the chairman of the Senate education committee is urging colleges to sign up for direct lending, just in case," The Chronicle of Higher Education reports. "In a letter sent today to the American Council on Education, Sen. Edward M. Kennedy, a Democrat of Massachusetts, encouraged colleges to enroll in the direct-loan program 'as a backup for their students' in the event that guaranteed loans become less available. Several colleges have already signed up for direct lending, with a few large institutions, including Pennsylvania State University, switching to direct lending completely. Secretary of Education Margaret Spellings has said her department has the capability to double the volume of the direct-loan program, if necessary."